TANDBERG Television has signed a definitive agreement to acquire Zetools, a Los Angeles-based developer of software that enables the delivery of digital video services over the Internet.
The move expands TANDBERG Television's ability to support content owners and operators as they look to build Internet TV and broadband businesses. In the past five years, Zetools has built a customer base that includes AOL, NBC Universal, MTV Networks and Viacom. By incorporating its on-demand and interactive technologies with Zetools' Internet TV software, TANDBERG Television is increasing its ability to enable the publishing, distribution and monetization of video content across any platform, to any digital device.
With Zetools, TANDBERG Television acquires a core team of IP video and broadband specialists whose skills complement those of TANDBERG Television. Zetools' publishing and management applications remove road blocks inherent in monetizing and syndicating video over the Internet and simplify the process of creating multi-platform portals, so content providers can reach the maximum number of viewers.
The deal is expected to close by third quarter 2006.
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